SOME POINTS OF INTEREST.

Taranaki Daily News, 9 October 1918, Page 6

SOME POINTS OF INTEREST.

To the Editor. Sir, —Mr Connett stated at his meeting in New Plymouth that the rise and fall in the price of commodities was due to the law of supply and demand. At the annual meeting of the Bank of New Zealand Mr. Beauchamp stated that, owing to the high prices paid for our produce by the Imperial Government money was more plentiful than it had ever been in the history of the Dominion, and yet the rate of interest has been steadily increasing since the war

started. How does Mr Connett reconcile the two statements? There is the celebrated Moratorium Act, an Act passed to prevent the lender calling in the principal when mortgages fell duo during the currency of the war. The ne\t session an amendment was passed enabling the lender to charge the market rate of interest. It practically makes the Act inoperative, as the money lender has the happy knack of forcing up the rate of interest. The shipping question should have been dealt witli by the National Government. When they allowed the Union Shipping Company to merge with the P. and C. they handed over the people of the Dominion to the mercy of the shipping combine. The New Zealand Government chartered the Marama and the Maheno for hospital Bhips at a cost to the country of one hundred and twenty thousand pounds, and the statement was made in the House that the boats were bought for less than sixty thousand pounds each. That means we hare paid the price of the boats and do not own them "Why did the National Government fail to protect the meat producers of the Dominion as to allow the sura of two million pounds to be picked out of the meat shipped Home? When war broke out the marine insurance companies promptly raised the premiums twenty-five per cent, and they have been rising ever since, although the Imperial Government guaranteed to pay for all ships sunk by enemy action. If the New Zealand State Fire have been able to keep down premiums to pre-war rates, marine companies should have been compelled to do the same. lam quite satisfied if there had been no State insurance the private companies would have increased the premiums. If the Government can protect us in regard to insurance it is time they started State banking, shipping and marine insurance. —I am. etc., a LEONARD HILL. Hurworth, October 7.